GATEWAY TO LAS OLAS RIVERFRONT FINALLY TO BE BUILT

GATEWAY TO LAS OLAS RIVERFRONT FINALLY TO BE BUILT

This is a really interesting one and a blast from the past for me! I moved to Florida in 2001 and went to work at the SunTrust Building at 515 East Las Olas. My partners and I frequented the bars and restaurants on Las Olas and at Las Olas Riverfront, which at that time was relatively full of tenants. But right on the Northwest corner of Las Olas Blvd. and Andrews Ave, at the main entrance to the Las Olas Riverfront, sat a vacant building for sale. And next to it was another vacant property, both with seemingly excellent frontage and visibility but challenged parking. Over the years it was said that an attorney bought the corner site (this is true, in 2002) and was planning to put a new building there. More than 10 years later, that building is due to break ground May 7th. It will be a sharp looking 40,000 SF, 5 story office building with retail on the ground floor and should be completed by the end of 2015. Wouldn’t you believe, the owner of this property, Jeff Ostrow (yes the same one who bought it in 2002!), also bought the long vacant property next to this one. There he is planning on putting a Tilted Kilt Pub & Eatery, which he owns the franchise rights for in Broward and Dade counties. We always thought that Downtown Ft. Lauderdale was missing a sports bar, and now it looks like they will finally be getting one. And this place is no ordinary sports bar I am told. It is a Hooters type of sports bar concept, with an Irish flavor, that should be very popular with the men in the area. A concept featuring scantily clad ladies and sports has a high probability of success in South Florida. This is the first office building that is being developed in 6 years, and it could be a good sign for the Downtown Ft. Lauderdale office market. With any luck it will spur the development of the Las Olas Riverfront itself, which has been in steady decline for many years. Many plans have come and gone for the site but sooner than later one will work and the last piece of Downtown will finally be developed. As always thanks for reading and have a great day.